[THE INVESTOR] Korean stocks ended lower on March 23 as foreigners and institutions dumped local stocks in line with losses on Wall Street amid a brewing US-China trade war. The won fell against the USdollar.

The benchmark KOSPI plunged 79.26 points, or 3.18 percent, to 2,416.76. Trade volume was moderate at 452.53 million shares worth 7.82 trillion won (US$6.60 billion), with losers far outpacing winners 825 to 53.

Foreigners and institutions sold a combined 775 billion won worth of stocks. Individuals bought a net 754 billion won, keeping the main index from falling further.

In response to the US’ planned heavy tariffs on at least US$50 billion of Chinese imports, Beijing said it may raise tariffs on US goods, marking an escalating trade dispute between the two economic giants. Asian shares, including Seoul’s, were affected by the conflict, analysts said.       

Technology stocks led the losses, with market bellwether Samsung Electronics plunging 3.98 percent to 2,486,000 won and No. 2 chipmaker SK hynix dropping 6.21 percent to 83,100 won.

Among other decliners, top carmaker Hyundai Motor fell 0.66 percent to 151,500 won, leading steelmaker POSCO shed 5.58 percent to 321,500 won, and No. 2 electronics company LG Electronics was down 4.48 percent at 106,500 won.

The local currency closed at 1,082.20 won against the US dollar, down 0.40 won from the previous session.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)